Loading

wait a moment

The explanation of express contract and implied contract

A contract can be done in oral or in written form. In our lifetime, we cannot avoid but to make contracts with each other. There could be various contracts and others expire within just months but others span years of it that can go to 10 or 50 years. Most of the contract expires once the action tied to it was completed. Around the world, there are many contracts that are being done daily and it can just expire in a day. Here is a video on contract.

In the video is the short explanation of an express and implied contract. By the terms that were used to describe them, we can have an understanding of what is their meaning. The expressed contract is one that has all the terms and condition and all the necessary information for a contract. There is a date, the names, and others. On the other hand, an implied contract is one that could be imposed by the law and the court. If it was fulfilled freely by the person then a court is not needed.

In the video, it clearly explains implied contract using the example of a scene in a restaurant. By ordering food, the customers are giving or entering the contract that they would pay whatever the cost of the food that they are have ordered. The video explains it short but very clear to understand. You can also use it if you will teach it to someone. You can even adapt the example.

Leave a Reply

Your email address will not be published. Required fields are marked *